How much should you spend on engagement rings?

August 17th, 2009 by diamondblogger Leave a reply »

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The betrothed couple has to decide how much they are ready to spend for their engagement ring. It is true that in most of the cases, the man decides on the type of engagement ring. The amount is equally shared between the couple and hence it is imperative that they select an engagement ring which is well within their budget.

We have heard so many statements like spending a two months salary for an engagement ring etc. The couple would obviously not want to begin their life by getting into debt just for buying expensive engagement rings. Hence, it becomes vital and necessary to go in for something which is not too expensive. A large diamond encompassed in a precious metal is not definitely a symbol of commitment and great love. Life’s priorities and budget constraints may not always permit us to buy an expensive diamond engagement ring. The other overhead expenses like insurance also need to be taken into consideration when you are going in for a costly engagement ring.

So then, how do we decide the budget for an engagement ring? The average price is somewhere around £3000 to £4000. The cost varies depending on the size and quality. The metal selected for the setting and also intricate designs would cost you more. The range would start from a few hundred pounds and go up to £5000 for a quarter carat diamond which would be set in 12 to 14 carat gold. Platinum is one of the more expensive metals and is also more heavy than gold, a factor to consider in larger designs.

If you are really stinking rich, then you can think of buying a £ 5000 worth diamond. Do not measure your love by the carat weight of diamonds.  We also know what happened to Liz Taylor and Richard Burton. Before proceeding to the jeweler store, be clear about what you are looking out for. Talk with your partner as to the budge and how it is going to be split. You could also speak to friends and relatives who have been recently engaged and the place of purchase of their engagement ring.

Speak to relatives and close associates on how much the budget should be for the engagement ring? This piece of valuable advice could help you save considerable amount of money. You could also browse the net and get an idea on the prices, patterns and designs. There are discounts which are offered by many reputed jeweler stores.

Last but not the least; make the right choice of selecting an engagement ring which suits your pocket. Later you could always upgrade it once you feel you are financially sounder to buy the expensive diamond ring.

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